Bank of Russia Authorizes Sberbank to Offer Bitcoin and Crypto Trading Services

Russia's largest bank, Sberbank, has obtained regulatory approval from the Bank of Russia to operate as a digital depository and digital currency exchange operator. Following the authorization, the state-backed lender plans to launch trading services for Bitcoin, Ethereum, and USDT on December 1 across its SberBank Online and SberInvestments platforms. Sberbank can buy and sell cryptocurrencies using its balance sheet without external exchanges, granting access to 110.6 million retail and 3.5 million corporate users. Non-qualified retail investors face an annual cap of 300,000 rubles ($3,800), with Sberbank projecting first-year Russian trading volumes of 4 trillion rubles ($46 billion).